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Is it possible to get the full payment on cancelling the new policy in free look period?
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‘Free Look Period’ is a time-period where the insured can cancel their newly bought policy in a specific period of time from the date of issuing the policy without any penalties or surrender charges. Yes, it is possible to get the full payment in free look period; you can cancel your new policy in 15 days by returning the policy to the life Insurance company after you receive all the documents related to the policy.
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During the free look period, the
contract holder can decide
whether or not to keep the
insurance policy;
if they are not
satisfied and wish to cancel, the
policy purchaser can receive a full
refund
.

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